Which of the adhering to a lot of most likely would certainly be classified as a existing liability?a. Dividends payableb. Bonds payable in 5 yearsc. Three-year notes payabled. Mortgage payable as a single payment in 10 years
Current liabilities are due:a. however not receivable for more than one year.b. however not payable for more than one year.c. and also receivable within one year. d. and payable within one year.

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Moss County Bank agrees to lend the Sadowski Brick Company $500,000 on January 1. Sadowski Brick Company kind of signs a $500,000, 6%, 9-month note. The entry made by Sadowski Brick Company on January 1 to document the proceeds and also issuance of the note isa. Interemainder Expense............. 22,500 Cash. ..................................477,500 Notes Payable......................500,000 b. Cash....................................500,000 Notes Payable......................500,000c. Cash................................... 500,000 Interest Expense. ............22,500 Notes Payable......................500,000 d. Cash .................................. 500,000Interest Expense................... 22,500 Notes Payable......................500,000 Interemainder Payable .....................22,500
Moss County Bank agrees to lfinish the Sadowski Brick Company $500,000 on January 1. Sadowski Brick Company kind of indicators a $500,000, 6%, 9-month note. What entry will Sadowski Brick Company make to pay off the note and interemainder at maturity assuming that interemainder has actually been accrued to September 30?a. Notes Payable.................522,500 Cash..........................................522,500b. Notes Payable.................500,000 Interest Payable.................22,500 Cash..........................................522,500c.Interest Expense.................22,500 Notes Payable..................500,000 Cash..........................................522,500d.Interemainder Expense.................22,500 Notes Payable..................500,000 Interemainder Expense...................7,500 Cash..........................................522,500
b. Notes Payable.................500,000 Interemainder Payable.................22,500 Cash..........................................522,500
Bonds via a confront value of $500,000 and a quoted price of 102¼ have actually a marketing price ofa.$601,125.b.$510,125.c.$510,013. d. $511,250.
If the sector rate of interemainder is greater than the contractual rate of interest, bonds will certainly sella. at a premium.b. at confront worth. c. at a discount.d. only after the stated rate of interest is enhanced.
Gomez Corporation issues 900, 10-year, 8%, $1,000 bonds dated January 1, 2017, at 96.The journal enattempt to document the issuance will certainly present aa. debit to Cash of $900,000.b. credit to Discount on Bonds Payable for $36,000.c. crmodify to Bonds Payable for $864,000. d. delittle to Cash for $864,000.
Five thousand also bonds via a face value of $1,000 each, are sold at 102. The entry to record the issuance isa. Cash ...................................................... 5,100,000 Bonds Payable ........................................5,100,000b.Cash ...................................................... 5,100,000 Premium on Bonds Payable.............100,000 Bonds Payable ......................................5,000,000c.Cash ...................................................... 5,100,000 Premium on Bonds Payable ................ 100,000 Bonds Payable ...................................... 5,000,000d.Cash .........................................,............ 5,100,000 Discount on Bonds Payable .................100,000 Bonds Payable .......................................5,000,000
c.Cash ...................................................... 5,100,000 Premium on Bonds Payable ................ 100,000 Bonds Payable ...................................... 5,000,000
Sparks Company kind of obtained proceeds of $634,500 on 10-year, 8% bonds issued on January 1, 2016. The bonds had actually a face value of $600,000, pay interemainder annually on December 3first, and have a contact price of 102. Sparks supplies the straight-line technique of amortization. Sparks Company made a decision to redeem the bonds on January 1, 2018. What amount of gain or loss would Sparks report on their 2018 income statement?a. $27,600 obtain b. $15,600 acquire c. $15,600 loss d. $27,600 loss
Alt Corp. worries 5,000 shares of $10 par worth prevalent stock at $14 per share. When the transactivity is videotaped, credits are made to:a. Typical Stock $50,000 and Paid-in Capital in Excess of Stated Value $20,000.b. Typical Stock $70,000. c. Typical Stock $50,000 and Paid-in Capital in Excess of Par Value $20,000.d. Common Stock $50,000 and also Retained Earnings $20,000.
Tomlinkid Packaging Corporation started company in 2017 by issuing 50,000 shares of $5 par common stock for $8 per share and also 5,000 shares of 6%, $10 par preferred stock for par. At year finish, the widespread stock had a sector value of $10. On its December 31, 2017 balance sheet, Tomlinson Packaging would reporta. Usual Stock of $500,000. b. Common Stock of $250,000.c. Common Stock of $400,000.d. Paid-in Capital of $330,000.
Johnboy Company kind of issued 900 shares of no-par common stock for $17,100. Which of the following journal entries would be made if the stock has actually no proclaimed value? a. Cash 17,100 Common Stock - No-Par Value 17,100b. Cash 17,100 Typical Stock - No-Par Value 900 Paid-in Capital in Excess of Par 16,200c. Cash 17,100 Usual Stock - No-Par Value 900 Paid-in Capital in Excess of Stated Value 16,200d. Typical Stock - No-Par Value 17,100 Cash 17,100
The adhering to data is easily accessible for BOX Corporation at December 31, 2017: Usual stock, par $10 (authorized 30,000 shares) $270,000 Treasury stock (at expense $15 per share) $ 1,200Based on the information, just how many shares of common stock are issued?a.30,000. b.27,000.c.29,920.d.26,920.
A corporation purchases 20,000 shares of its very own $20 par common stock for $35 per share, recording it at price. What will certainly be the effect on full stockholders" equity?a. Increase by $700,000.b. Decrease by $400,000. c. Decrease by $700,000.d. Decrease by $300,000.
Dividends in arrears on cumulative preferred stocka. are taken into consideration to be a non-existing licapacity.b. are considered to be a current liability.c. only take place when desired dividends have actually been claimed. d. should be disclosed in the notes to the financial statements.
Outstanding stock of the West Corporation contained 40,000 shares of $5 par widespread stock and 10,000 shares of 5%, $10 par non-cumulative desired stock. In 2016, West claimed and passist dividends of $4,000. In 2017, West declared and also paid dividends of$20,000. How a lot of the 2017 dividend was dispersed to preferred shareholders?a.$9,000.b.$15,000. c. $5,000.d.Namong these answer selections are correct.
The cumulative impact of the declaration and also payment of a cash dividfinish on a company"s financial statements is toa. decrease complete liabilities and stockholders" equity.b. rise complete prices and full liabilities.c. boost full assets and stockholders" equity. d. decrease total assets and also stockholders" equity.
Ace Inc. has 10,000 shares of 4%, $100 par worth, cumulative preferred stock and 50,000 shares of $1 par worth widespread stock impressive at December 31, 2017. What is the annual dividfinish on the desired stock?a. $40 per share b. $40,000 in totalc. $4,000 in totald. $0.40 per share
Watboy, Inc. has 10,000 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par worth prevalent stock exceptional at December 31, 2017. Tbelow were no dividends declared in 2015. The board of directors declares and pays a $90,000 dividend in 2016 and also in 2017. What is the amount of dividends received by the widespread stockholders in 2017? a. $30,000. b. $40,000. c. $50,000.d. $0.
Nance Corporation"s December 31, 2017 balance sheet verified the following: 6% wanted stock, $20 par value, cumulative, 30,000 shares authorized; 20,000 shares issued $400,000 Usual stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares exceptional $19,500,000Paid-in funding in excess of par value - wanted stock $60,000Paid-in funding in excess of par value - widespread stock $28,000,000Retained income $9,650,000Treasury stock (30,000 shares) $630,000Nance asserted and phelp a $85,000 cash dividend on December 15, 2017. If the company"s dividends in arrears before that date were $24,000, Nance"s prevalent stockholders receiveda. $61,000. b. $48,000. c. $37,000.d. no dividfinish.
Zoum Corporation had the following transactions throughout 2017:1. Issued $250,000 of par worth widespread stock for cash.2. Recorded and also passist weras expense of $120,000.3. Acquired land by issuing widespread stock of par value $100,000.4. Declared and passist a cash dividend of $20,000.5. Sold a permanent investment (price $8,000) for cash of $6,000.6. Recorded cash sales of $800,000.7. Bought inventory for cash of $320,000.8. Acquired an investment in Zynga stock for cash of $42,000.9. Converted bonds payable to common stock in the amount of $1,000,000.10. Repassist a 6-year note payable in the amount of $440,000. What is the net cash provided by financing activities? a. $(210,000). b. $790,000.c. $(1,210,000). d. $230,000.
Vangaurd Company type of purchased treasury stock with a price of $55,000 in the time of 2017. Throughout the year, the company passist dividends of $20,000 and also issued bonds payable for proceeds of $876,000. Cash flows from financing activities for 2017 totala. $856,000 net cash inflow.b. $911,000 net cash inflow.c. $75,000 net cash outflow. d. $801,000 net cash incirculation.
Assume that the E-Zip Corporation uses the instraight strategy to depict cash flows. Indicate wright here, if at all, land purchased for cash would be classified on the statement of cash flows.a. Operating activities section. b. Investing activities area.c. Financing activities section.d. Does not represent a cash flow.
If accounts receivable have actually increased throughout the perioda. earnings on an accrual basis are less than revenues on a cash basis. b. earnings on an accrual basis are higher than profits on a cash basis.c. earnings on an accrual basis are the same as profits on a cash basis.d. expenses on an accrual basis are higher than costs on a cash basis.
Accounts receivable developing from sales to customers aplaced to $120,000 and also $105,000 at the start and also finish of the year, respectively. Income reported on the revenue statement for the year was $457,000. Exclusive of the result of other adjustments, the cash flows from operating tasks to be reported on the statement of cash flows isa.$457,000. b. $472,000.c.$562,000.d.$442,000.
Catalina Company reported a net loss of $15,000 for the year ended December 31, 2017. During the year, accounts receivable reduced $7,500, inventory raised $12,000, accounts payable enhanced by $15,000, and depreciation expense of $9,000 was taped. During 2017, operating activitiesa. offered net cash of $4,500.b. provided net cash of $10,500. c. provided net cash of $4,500.d. gave net cash of $10,500.

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A company had net revenue of $282,000. Depreciation expense is $26,000. During the year, accounts receivable and also inventory boosted $15,000 and also $40,000, respectively. Prepassist expenses and accounts payable decreased $2,000 and also $14,000, respectively. Tright here was likewise a loss on the sale of tools of $17,000. How much cash was provided by operating activities? a. $258,000. b. $241,000. c. $318,000. d. $339,000.
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